FPIs take out Rs 44,396 cr from equities in Jan amid weak earnings outlook

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FPIs take out Rs 44,396 cr from equities in Jan amid weak earnings outlook - Business Standard

Quick Summary:

"The continued depreciation in Indian rupee is exerting significant pressure on foreign investors leading them to pull the money out of the Indian equity markets," Himanshu Srivastava, Associate Director - Manager Research, Morningstar Investment Advisers India, said.

Foreign investors have pulled out Rs 44,396 crore from Indian equities this month, driven by strength of the dollar, rising bond yields in the US, and expectations of a weak earnings season.

This came following an investment of Rs 15,446 crore in the month of December, data with the depositories showed.